Are you juggling multiple types of property management responsibilities alone? You don't have to! About 70% of property managers perform property inspections, handle leases, and advertise listings.
Hiring a full-service property management company will ensure you avoid stress and burnout. Not sure if you need help as an investment property owner? Read on to discover the benefits of these services!
Reduce Vacancies
National vacancy rates reached 6.6% at the end of 2023. How many of your St. Louis residential properties are sitting empty? Each one can cost you thousands of dollars a month.
Experienced property managers know how to attract local renters. They can develop a comprehensive marketing strategy that includes:
- Cleaning and staging the property
- Making minor aesthetic upgrades
- Optimizing online listings
- Search engine optimization
- Content marketing
- Paid advertising
- Social media marketing
A multi-platform marketing strategy will position your listings in front of multiple renters. You'll generate more applications. You can have your pick of renters to decrease vacancies.
Instead, you can boost your occupancy rate. Filling every available unit will maximize your earning potential.
Tenant Screening
Some landlords rush to fill vacant properties without looking for the best renters. An experienced property manager will screen applicants first. A thorough tenant screening report covers:
- Rental histories
- Eviction histories
- Criminal background checks
- Credit reports
- Employment verification
- References
Gathering these reports can steal days (or even weeks) from your already busy schedule. Choose a property management company that relies on automation. Their state-of-the-art technology can save you time while ensuring accuracy.
Maintenance and Repairs
Your investment property could crumble if you neglect to schedule inspections. The best property managers can handle maintenance and repairs.
They'll vet local vendors to choose the most experienced contractors. They can gather competitive bids to find services at the best prices.
Keeping up with routine maintenance will ensure the property is habitable. Otherwise, tenants may decide to take legal action. Choose a company that offers tenants access to an online portal.
Tenants can submit their maintenance requests online. This can minimize delays and boost tenant satisfaction rates. Higher satisfaction rates can lead to more renewals.
Legal Compliance
Keeping up with new local, state, and federal laws can get confusing. Your property manager will track new laws and regulations on your behalf. They'll ensure you remain compliant.
Leverage their legal expertise to avoid fines. If necessary, they can help you navigate a lawsuit.
Peace of Mind
Managing more than one investment property can feel stressful. You could experience burnout. Instead, review your property management options.
Hiring an experienced property manager will give you peace of mind. They'll streamline processes, saving you time and money. You can sit back, relax, and know your investment is in good hands.
Choose Full Service Property Management
Don't risk your health or mental well-being by managing an investment property alone. Instead, request full service property management services. The best property managers can enhance and add value to your investments.
PMI STL Metro has 20 years of experience supporting owners like you. We have a strong record of success and the awards to prove it.
Discover what makes us the number one property management company. Contact us today to request our services.
